What is the Financial Intelligence Centre Act (FICA) South Africa? The Financial Intelligence Centre Act is South Africa’s primary anti-money laundering and counter-terrorism financing legislation. South Africa’s Financial Intelligence Centre Act (FICA) was introduced in 2001, establishing the country’s Financial […]
What Is The Reserve Bank Of New Zealand (RBNZ)? The Reserve Bank Of New Zealand (RBNZ) works to maintain the stability of New Zealand’s monetary and financial system and provides regulatory oversight for banks and other financial institutions. The RBNZ […]
The term advisory is misleading. Compliance is about going beyond the minimum standard, so for a company to ignore guidance from an advisory body is misguided at best. Take the Advantage If you disagree just imagine the following scenario. Your […]
PSD2 has already had a significant impact on the payments industry, but what is PSD2, and how does it affect how firms implement AML compliance? The European Commission adopted the Payment Services Directive 2 (PSD2) in 2015, replacing the original […]
In order to understand the money laundering risks that they face, banks and financial institutions, and obligated financial service providers must verify the identities of their customers, and the nature of the business in which they are involved. The process […]
With authority over financial markets, FINMA is responsible for ensuring that financial institutions in Switzerland operate in compliance with the law. The Swiss Financial Market Supervisory Authority (FINMA) was established on 22 June 2007 as a merger of the Anti […]
The Financial Action Task Force (FATF) is an international, intergovernmental body dedicated to combating money laundering and the financing of terrorism. Established in 1989, the FATF works to align international AML/CFT standards across its 37 current member states by issuing […]
The Financial Transactions and Reports Analysis Centre (FINTRAC) is Canada’s financial intelligence unit (FIU) and the country’s anti-money laundering and countering the financing of terrorism (AML/CFT) regulator. FINTRAC was established in October 2000 under the Proceeds of Crime (Money Laundering) […]
Traditional AML systems are falling behind against evolving threats: a smarter approach to AML compliance is needed. Read on to discover an AML compliance checklist that will enable robust compliance within your organization. AML is at the heart of the […]
Global AML Regulations: What You Need To Know Wherever you do business, achieving AML compliance means dealing with financial regulators and understanding legislation imposed at a national and international level. With so much legislative ground to cover, our guide to the […]
What is the European Banking Authority (EBA)? The European Banking Authority supervises the banking industry across the European Union with the goal of maintaining financial stability. The European Banking Authority (EBA) was established on 1 January 2011, taking over the […]
To identify and prevent money laundering, terrorist financing, and other fraudulent activities, the AMF has the power to set rules, conduct investigations, and issue sanctions and fines to companies found to be in breach of compliance obligations. The AMF may also censure individuals within a financial institution, including company directors, employees, officers, or anyone acting on behalf of a financial entity.
EN
FR